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cliff and that a lot of consumers are taking a wait and see approach, reluctant to go on a spending spree. >>> okay, i know you've got them, you've got questions about the fiscal cliff, so get them to me by tweeting them to me at my handle at allisoncossack and we'll handle as many as we can during our 5:00 hour. >>> now to the latest on that tragic story out of britain. the investigation continues into the apparent suicide of a nurse at the hospital where the duchess of cambridge is being streeted. she took a prank phone call from two radio deejays -- he called the whole thing truly tragic and also said that we are anxious to review the results of an investigation. the family of the nurse posted about her on facebook. her daughter wrote simply, i miss you, i love yochlt. >>> this dallas cowboys took the field against the cincinnati bengals without two players, linebacker jerry brown jr. was killed early yesterday when the car he was riding in hit a curb at high speed in irving, texas. police say the mercedes went 900 feet, flipped and caught fire. police say that nose tackle josh b
cliff and that a lot of consumers are taking a wait and see approach, reluctant to go on a spending spree. >>> okay, i know you've got them, you've got questions about the fiscal cliff, so get them to me by tweeting them to me at my handle at allisoncossack and we'll handle as many as we can during our 5:00 hour. >>> now to the latest on that tragic story out of britain. the investigation continues into the apparent suicide of a nurse at the hospital where the duchess of...
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. >> most of us know by now the fiscal cliff is looming. if lawmakers don't come up with a deal, our taxes will go up and dramatic spending cuts will affect agencies across the board, and that includes the food and drug administration. emily schmidt explains what it could all mean for your food. >> susan, the federal government says americans spend about a trillion dollars a year on food. there are two agencies responsible for food saety. the job is the same with less funding to make it happen. >> preparing for the holidays in the bennett's house, is a reminder of something else, a fiscal cliff deadline that's personal here. >> i can't imagine funding being cut at this point, it will be tragic. >> chloe was in the hospital from two weeks, luke for three. >> contaminated food sickens about 48 million people a year. so the fda foot safety and administration service -- the budget cut translates to a combined $157 million. there's no word exactly what cuts would mean to expecter staffing. >> they're already stretched then when it comes to the i
. >> most of us know by now the fiscal cliff is looming. if lawmakers don't come up with a deal, our taxes will go up and dramatic spending cuts will affect agencies across the board, and that includes the food and drug administration. emily schmidt explains what it could all mean for your food. >> susan, the federal government says americans spend about a trillion dollars a year on food. there are two agencies responsible for food saety. the job is the same with less funding to...
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. >> if nothing is done by the end of the year to avoid the fiscal cliff, automatic federal spending cuts could impact the foot we eat. emily schmidt explains. >> preparing for holidays is a reminder of something else around the corner. >> i just can't imagine funding being cut at this point. it was be tragic. >> she is worried budget cuts would hurt food safety inspection. that's mattered to her since her twins her born in 1999. she and her babies got listeria poisoning. contaminated food sickens about 48 million a year. 3,000 die. so the fda and usda are charged with protecting the simply. an 8.2 budget cut translates to $157 million. there's no word exactly what cuts would mean to staffing. >> both fda and usda are stretched pretty thin when it comes to the activities they do. they need increased resources and not fewer. >> agencies always say they're stretched. >> dean clancy is with freedom works and says the cuts leave nothing to fear. >> arguing that getting spending under control endangers public health and safety is a really irresponsible scare tactic. especially when you re
. >> if nothing is done by the end of the year to avoid the fiscal cliff, automatic federal spending cuts could impact the foot we eat. emily schmidt explains. >> preparing for holidays is a reminder of something else around the corner. >> i just can't imagine funding being cut at this point. it was be tragic. >> she is worried budget cuts would hurt food safety inspection. that's mattered to her since her twins her born in 1999. she and her babies got listeria...
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Dec 5, 2012
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cliff. >> first, the fiscal cliff, relative to our nation's spending driven debt crisis is a pothole. you've got 0.3% of all americans that have million dollar incomes. this is a shell game. you can't tax your way out of this problem. i mean, you have revenues that are about the same levels they were five or six years ago, when deficits were running $100, $150 billion. now we know deficits are running $1 to $1.5 trillion. what's changed is on the spending side yet all this discussion is on the tax revenues. you can tax every millionaire 100% and run the government for two or three months. this is a spending driven crisis and it has to be solved on the spending side. until the president gets serious about it, i'm not sure what there is to talk about, soledad. >> i'm not sure that the only conversations have just been on the tax side. i actually think there have been conversations on both. at this moment, right, we're going over or toward the fiscal cliff. if you do nothing, all of our taxes are going up. why not, as a first move, say, listen, nobody at this point wants to raise taxes
cliff. >> first, the fiscal cliff, relative to our nation's spending driven debt crisis is a pothole. you've got 0.3% of all americans that have million dollar incomes. this is a shell game. you can't tax your way out of this problem. i mean, you have revenues that are about the same levels they were five or six years ago, when deficits were running $100, $150 billion. now we know deficits are running $1 to $1.5 trillion. what's changed is on the spending side yet all this discussion is...
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the fiscal cliff will result in tax increases and federal spending cuts. >> both parties are kind of, hey, i'm going to do my thing, you're going to do your thing, nobody seems to want to give in. they're going to have to because this country's in a dire situation. >> many shoppers agree, as tax paying citizens, one of the top things on their wish list for christmas is for the president and congress to compromise and to get a deal done. >> please start working together and remember the people who put you in office. >> nadia ramdass, wbal-tv 11 news. >> jews around the world celebrated the beginning of eight-day hanukkah festival saturday evening by lighting the candles of the ceremonial lamps. in chicago, hundreds gathered to watch the lighting of an eight-foot menorah. also known as the festival of lights. hanukkah commemorates the jewish uprising in the second century b.c. against the greek syrian kingdom. the holiday lasts eight days. according to tradition, when the jews rededicated the temple in jerusalem, a single vial of oil burned for eight days. and here in baltimore, some pe
the fiscal cliff will result in tax increases and federal spending cuts. >> both parties are kind of, hey, i'm going to do my thing, you're going to do your thing, nobody seems to want to give in. they're going to have to because this country's in a dire situation. >> many shoppers agree, as tax paying citizens, one of the top things on their wish list for christmas is for the president and congress to compromise and to get a deal done. >> please start working together and...
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>>> the fiscal cliff, the fiscal cliff, just 23 days away and if we go over it, automatic spending cuts will take effect, automatically, bam. todd schoenberger is back with me from new york. we spent some time taking questions from viewers who want 20 know how the fiscal cliff will affect them. what will make the headlines? >> bottom line is this, that is if nothing is resolved right now, we are looking at a 20% increase across the board for tax revenue for washington. and you hear a lot about these spending cuts but realistically, we won't see a whole lot of spending cuts, because this way this was actually createded, we would only see spending cuts of .25%. >> one coming from edgar, he says i'm not confused about the fiscal cliff, what i'm confused about is what taxes will be raised? >> that's right. well the payroll tax holiday, it was created in 2010, it had a two-year tax extension, it expires on december 31st. this is a 2% payroll tax that all americans were enjoying. if nothing is resolved, your first paycheck in january is going to be 2% lighter. that may not sound like a lot. b
>>> the fiscal cliff, the fiscal cliff, just 23 days away and if we go over it, automatic spending cuts will take effect, automatically, bam. todd schoenberger is back with me from new york. we spent some time taking questions from viewers who want 20 know how the fiscal cliff will affect them. what will make the headlines? >> bottom line is this, that is if nothing is resolved right now, we are looking at a 20% increase across the board for tax revenue for washington. and you...
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. >> is the administration prepared to go over the fiscal cliff? >>> oo absolutely. >> the president had support on raising tax rates on upper income earners. republicans have support the putting more emphasis on government spending rather than just simply raising taxes. the republican leaders in congress meantime who also met with business leaders yesterday said they have already offered to raise taxes by cutting deductions for upper earners an the president has yet to counter their proposal. >> i will be ready to sit down with the president to get serious about the problem. >> it is possible the white house could be bluffing the administration ordered the pentagon to begin considering the big spending cuts that would hit military spending if in fact we goefr the cliff. >> back to you. >> doug luzader, thank you. >>> we heard what the lawmakers are saying but what about the taxpayers they represent? it's their bank accounts that would be impacted. >> so i went to times square in new york to find out who is talking about the fiscal cliff? >> we are
. >> is the administration prepared to go over the fiscal cliff? >>> oo absolutely. >> the president had support on raising tax rates on upper income earners. republicans have support the putting more emphasis on government spending rather than just simply raising taxes. the republican leaders in congress meantime who also met with business leaders yesterday said they have already offered to raise taxes by cutting deductions for upper earners an the president has yet to...
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where pay the bills and don't spend a lot that you don't have. going to. going to bed going to money as a model when the woman lives whether or not americans are worried about the fiscal cliff the bottom line is the media is milking the crap out of the phrase while realistically nothing drastic is probably going to happen. first law enforcement officials wanted for the ability to listen in on your private phone conversations then they wanted access to your e-mail and internet activities now they're asking for access to your text messages the major cities police chiefs association which represents sixty three large police forces in the country those are the largest ones have submitted a proposal to congress that requires wireless providers to record and store information about americans private text messages for at least two years that is to say they want every text message from every user stored for at least two years now i don't know about you but i text a lot so imagine a stockpile of text messages that wireless providers would be forced to store that's
where pay the bills and don't spend a lot that you don't have. going to. going to bed going to money as a model when the woman lives whether or not americans are worried about the fiscal cliff the bottom line is the media is milking the crap out of the phrase while realistically nothing drastic is probably going to happen. first law enforcement officials wanted for the ability to listen in on your private phone conversations then they wanted access to your e-mail and internet activities now...
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i'm going to tell you what others won't about the fiscal cliff. the head of starbucks said it will damage the u.s.'s reputation and shenanigans from capitol hill and with a cool 500 bucks to spend, should you use them now for a share in apple? apple says it will build some of the iconic mac computers in the u.s. listen to what apple ceo tim cook said to nbc's brian williams. >> so we've been working for years on doing more and more in the united states. next year, we will do one of our existing mac lines in the united states. >> but apple stock has been singing the blues for a few months. plummeted 25% off the all-high and a beating this week. 6.5% lower yesterday. apple up more than a percent today. kurndly around $544 a share. is now a good time to get in. you're all asking me. i'm asking katie stockton in connecticut. katie, is apple stock down off its high a phenomenally successful stock to hold for so many investors and showing the chart again. you look at technical trading patterns in the stock. do they tell you it's time to buy, sell or hol
i'm going to tell you what others won't about the fiscal cliff. the head of starbucks said it will damage the u.s.'s reputation and shenanigans from capitol hill and with a cool 500 bucks to spend, should you use them now for a share in apple? apple says it will build some of the iconic mac computers in the u.s. listen to what apple ceo tim cook said to nbc's brian williams. >> so we've been working for years on doing more and more in the united states. next year, we will do one of our...
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and tax issues on the table and the so-called cliff, fiscal cliff, he also wants to deal with raising the debt ceiling which caused so much controversy a year and a half ago. take a listen to the president today. >> if congress in any way suggests they are going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> now, republics may not want to include the debt ceiling extension lifting that ceiling in these negotiations because the ceiling doesn't need to be lifted for a couple more months. if they come back next year and deal with that part of this, they might have more leverage as we get closer and closer to that deadline to force the president into more spending cuts than he wants right now, harris. >> harris: well, editor all those americans wondering and watching rights now, 27 days, how close are we. we heard the speaker say he is waiting to hear back from the white house. i would think that would be in
and tax issues on the table and the so-called cliff, fiscal cliff, he also wants to deal with raising the debt ceiling which caused so much controversy a year and a half ago. take a listen to the president today. >> if congress in any way suggests they are going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game....
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cliff or what we should do about tax increases and spending cuts. if mr. boehner is the principal negotiator, what he had to say lasted all of 30 seconds. he simply came out and said look, if the president doesn't agree with our plan, the republican plan, he should submit a plan that could pass through congress. he has failed to do that. he said, however, and he used these words, that speaker boehner and the republicans are ready and eager to negotiate with the president. doesn't sound like there's any degree of compromise there. there's an extremely short statement, really didn't say much of anything. that's it, speaker boehner. mr. cantor is now speaking. again, he's keeping it very very short and very much to the point. but the principal negotiator had all of 30 seconds. that's it. we brought it to you live. >>> back to the judge. >> well i was sort of hoping he would say no new taxes no new spending no new borrowing, draw a line in the sand, do what you were sent there to do. they are becoming enablering of obama -- they are becoming enablers ob
cliff or what we should do about tax increases and spending cuts. if mr. boehner is the principal negotiator, what he had to say lasted all of 30 seconds. he simply came out and said look, if the president doesn't agree with our plan, the republican plan, he should submit a plan that could pass through congress. he has failed to do that. he said, however, and he used these words, that speaker boehner and the republicans are ready and eager to negotiate with the president. doesn't sound like...
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. >>> up first, president obama standing his ground over the fight in the fiscal cliff. americans face crushing tax hikes and severe spending cuts in 27 days if democrats and republicans cannot come together on a deal. by the way, congress breaks for the holidays in ten days. slash that number. in an interview with bloomberg news, the president made it crystal clear he's not about to blink on the issue of tax hikes for the wealthiest americans. >> we'll have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> white house correspondent dan lothian joins us live from washington this morning. very nice to see you, dan. >> good to see you. >> here's the deal. we have republicans pitted against democrats. now we understand there are issues amongst republicans as well. >> that's right. they're in a tough spot here. they don't want to be in left in a position of being blamed for the fiscal cliff. you're seeing a division between house members and senate members. the reason for this is mainly over the 800 billion in new tax revenue.
. >>> up first, president obama standing his ground over the fight in the fiscal cliff. americans face crushing tax hikes and severe spending cuts in 27 days if democrats and republicans cannot come together on a deal. by the way, congress breaks for the holidays in ten days. slash that number. in an interview with bloomberg news, the president made it crystal clear he's not about to blink on the issue of tax hikes for the wealthiest americans. >> we'll have to see the rates on...
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known as the fiscal cliff. despite a call between president obama and john boehner, the two sides appear to be no closer to a compromise. are republicans working on the scenes on a plan b? wall street journal columnist, dan henninger and kim strassel. you have bean working the phones, is there something going on between speaker boehner and the president? >> no, i think that they are nowhere and it's because the president is refusing to budge at all on the top toks ratestopx rates and we'll go off the cliff if the republicans don't acreed to that demand. so we're still at a stand still. >> paul: kim, why is the president so insistent on increasing tax rates? boehner has already put on the table a comparable amount of money to be gained from putting a cap on deductions, about 800 billion over ten years, so such a-- >> look, paul, two reasons. first is ideological. his partisans, his liberal base believe this is somehow a symbol of winning the tax fight and you can only do that by raising the rates on the wealthy
known as the fiscal cliff. despite a call between president obama and john boehner, the two sides appear to be no closer to a compromise. are republicans working on the scenes on a plan b? wall street journal columnist, dan henninger and kim strassel. you have bean working the phones, is there something going on between speaker boehner and the president? >> no, i think that they are nowhere and it's because the president is refusing to budge at all on the top toks ratestopx rates and...
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unless congress acts to avert the so-called fiscal cliff. in addition, several key tax benefits are scheduled to expire at the end of the year that will have a direct impact on the pocketbooks of many americans. take a couple with one child living in new york earning $100,000. their tax rate jumps from 25% to 28%. they could be hit by the alternative minimum tax. the child tax credit drops from $1,000 to $500, and payroll taxes could be $2,000 more next year. for a single 25-year-old in michigan who works for time earning $30,000 a year and going to school part time, his tax rate would stay the same at 15%, but he would lose the american education tax credit and have to pay more than $600 in payroll taxes. and even though it's weeks before the changes would take effect, the impact is already being felt because of uncertainty. 401(k) plans are taking a hit. several companies have put a freeze on hiring. and the next thing to watch for, the retail sector which makes most of its money in the final weeks of the year. >> i'm shortening down the l
unless congress acts to avert the so-called fiscal cliff. in addition, several key tax benefits are scheduled to expire at the end of the year that will have a direct impact on the pocketbooks of many americans. take a couple with one child living in new york earning $100,000. their tax rate jumps from 25% to 28%. they could be hit by the alternative minimum tax. the child tax credit drops from $1,000 to $500, and payroll taxes could be $2,000 more next year. for a single 25-year-old in...
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we'll update the talks on the fiscal cliff. >>> we couldn't see this happening. meant to be a prank call. >> more of the emotional apology from the two australian d.j.s, who pulled a royal prank that ended in the death of a nurse. >>> and she's considered to be the diana ross of mexican music. the tragic plane crash that killed a popular singer. eyewitness news at 4:00 continues with denise after this. you know how much grandma wanted to be here for your fist christmas? you see grandma lives waaaay down here and you live way up here. brian, your cousin, he's a little bit older than you he lives here, in chicago. and your aunt lisa lives here in baltimore. uncle earnie? waaay out in hawaii. but don't you worry we will always be together for christmas. [ male announcer ] being together is the best part of the holidays and cheerios is happy to be part of the family. you just ate dallas! mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offe
we'll update the talks on the fiscal cliff. >>> we couldn't see this happening. meant to be a prank call. >> more of the emotional apology from the two australian d.j.s, who pulled a royal prank that ended in the death of a nurse. >>> and she's considered to be the diana ross of mexican music. the tragic plane crash that killed a popular singer. eyewitness news at 4:00 continues with denise after this. you know how much grandma wanted to be here for your fist christmas?...
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just when you thought the fiscal cliff talks were at a standstill, john boehner spent time today at the white house with president obama. we like to spend our sunday afternoons with cnn contributor. lz granderson, a writer for espn, consultant and strategist, good to see body of you. john boehner had some pretty tough words for the president on friday, listen. >> there are a lot of things that are possible to put the revenue that the president seeks on the table. well, but none of it's going to be possible if the president insists on his position. insists on my way or the highway. >> so anna, he also said the white house has wasted another week. now two days later, they're meeting again. did boehner's remarks make the difference? >> good. look, i think it's great. we cannot reach a deal if you are posturing and negotiating through press conferences. they need so sit in a room, they need to look at each other, they need to talk constructive debate, and they need to move this ball forward. i think what happened today is a very good sign. americans should be encouraged. it's a good thing.
just when you thought the fiscal cliff talks were at a standstill, john boehner spent time today at the white house with president obama. we like to spend our sunday afternoons with cnn contributor. lz granderson, a writer for espn, consultant and strategist, good to see body of you. john boehner had some pretty tough words for the president on friday, listen. >> there are a lot of things that are possible to put the revenue that the president seeks on the table. well, but none of it's...
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lori: house speaker john boehner today trying to shift the fiscal cliff debate back to, spending. here is what he said earlier today. >> here we are, at the 11th hour and the president still isn't serious about dealing with this issue right here. it's this issue, spending! now you go back, i want to talk about polling, most americans would agree that spending is a much bigger problem than raising taxes. they want us to deal with this, in a responsible way. lori: just shortly after that fox news's ed henry trying to get a comment from the president on the fiscal cliff negotiations about the issue that john boehner just raced about spending cuts or lack thereof. listen to this. >> how are you doing, sir? >> what do you say, i'd? >> great. how do you feel about a deal? optimistic? >> still work in progress. >> speaker boehner says he is waiting to hear more from you, sir? >> merry christmas. lori: what a permagrin. lou dobbs dobbs here with the take. >> good try, ed. he will not give up anything to ed henry he wouldn't first to john boehner. i think john boehner did himself a lot of
lori: house speaker john boehner today trying to shift the fiscal cliff debate back to, spending. here is what he said earlier today. >> here we are, at the 11th hour and the president still isn't serious about dealing with this issue right here. it's this issue, spending! now you go back, i want to talk about polling, most americans would agree that spending is a much bigger problem than raising taxes. they want us to deal with this, in a responsible way. lori: just shortly after that...
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. >>> the fiscal cliff fiasco. the obama plan, the boehner plan, will either alter america's rising rate of spending or lessen the size of our bloated government? the answer in tonight's chalk talk. >>> is the housing market really recovering? $17 trillion is riding on the answer. the president and ceo of citi mortgage joins us next. twins. i dn't see them coming. i have obligations. cute obligation b obligatio. i need to rethink the core of my portfolio. what i really need is eep. introducing the ishares core, budinglos for the heart of your portfolio. find out why 9 out of 10 ilarge professisional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectis, risks, charges and expenses. ad and consider itarefully bere investing. ri includes possible ss of principal. lou: new reports show foreign investment is helping the housing market slowly recover. citimortgage president and ceo sanjiv das joins us here in just moments to discuss that and
. >>> the fiscal cliff fiasco. the obama plan, the boehner plan, will either alter america's rising rate of spending or lessen the size of our bloated government? the answer in tonight's chalk talk. >>> is the housing market really recovering? $17 trillion is riding on the answer. the president and ceo of citi mortgage joins us next. twins. i dn't see them coming. i have obligations. cute obligation b obligatio. i need to rethink the core of my portfolio. what i really need is...
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look, you are talking about the fiscal cliff, 25 days away until these tax hikes and federal spending cuts go into effect. you are looking at wall street. it is not making any big moves because of the uncertainty of what is going to happen with this. how long are politicians going to continue dragging their feet. and it is not just wall street. you know, it is beginning to eat into consumer confidence. we just got this index, university of michigan consumer confidence index. just a short time ago, this morning. it showed that consumer confidence plunged and in the first week of its month because americans don't know what to expect taxwise. that's a bad sign for retailers at the most important time of the year. the holidays. because guess what, if consumers aren't feeling confident, they are no going to spend. that domino effect that hit retailers, many of these retailers depend on the holiday sales to push them into a profit important the year. this is what's weighing out there in -- you know, for consumers, yes. fiscal cliff definitely weighing on things. despite the fact that the jo
look, you are talking about the fiscal cliff, 25 days away until these tax hikes and federal spending cuts go into effect. you are looking at wall street. it is not making any big moves because of the uncertainty of what is going to happen with this. how long are politicians going to continue dragging their feet. and it is not just wall street. you know, it is beginning to eat into consumer confidence. we just got this index, university of michigan consumer confidence index. just a short time...
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period well before the fiscal cliff concerns became center stage. i think those economic detier a's, components probably lead to reduced employment, and reduced consumers spending starting in the first quarter. this is an economic deterioration, probably amplified by the policy concerns, but nonetheless that has occurred, and is forcing our earnings numbers lower. we're now at 10 as a good example. >> you've managed to make adam parker look like a bull. you're looking for 1390 in the s&p for next year. he had 1167, but he's looking to 1434. >> so far, i think there are a number of folks that have yet to come out, but unfortunately we have to live with that status for a while. quite frankly investors are not being paid a ton. we start to rebound -- we'll have to get more optimistic. >>> good to talk with you as always. >> thanks for having me. >> see you soon. >>> what's going on with this rally? up 125 on the dow. so the kind of stocks that are moving today? >> i think it's really important to keep in mind so much of this year, when they write the t
period well before the fiscal cliff concerns became center stage. i think those economic detier a's, components probably lead to reduced employment, and reduced consumers spending starting in the first quarter. this is an economic deterioration, probably amplified by the policy concerns, but nonetheless that has occurred, and is forcing our earnings numbers lower. we're now at 10 as a good example. >> you've managed to make adam parker look like a bull. you're looking for 1390 in the...
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>> that's exact right. >> we are here right now, this republican, you know, fiscal cliff because they forced us to be here because they wouldn't do the responsible thing in 2011. >> exactly. look, we are here because the republicans did what no family may america would do, they took out the credit card. they put expenses on that credit card and decided we don't want to pay what we owe. these were their decisions. history is interesting but it's not going to get us away from this cliff. what will is pass the petition now. we can argue history later. give the middle class a break get the 218 signatures. there is not a single middle class american who will have to worry about whether they will have the money in their pay checks on january 1st to pay for the holiday gifts they bought in december. >> i know you have to go but there is one thing i would love to get your comment on, republicans are insisting what they call entitlesment reform, which we know means gutting social security has to be on the table as well. there are some strong voices for not touching social security. i would lik
>> that's exact right. >> we are here right now, this republican, you know, fiscal cliff because they forced us to be here because they wouldn't do the responsible thing in 2011. >> exactly. look, we are here because the republicans did what no family may america would do, they took out the credit card. they put expenses on that credit card and decided we don't want to pay what we owe. these were their decisions. history is interesting but it's not going to get us away from...
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the revenue and the spending cuts. >> house members are willing to compromise to avert the fiscal cliff. what are the people at home thinking of their actions. we have a pri view for a poll that debuts tonight. part of that is compromising what folks want to see from the lawmakers. >> a lot of americans want to see compromise. according to the poll, 65% want a compromise balanced deal to reduce the deficit. even if they have to reduce the entitlement program like medicare and social security and the republicans on have to support increase in tax rates for the wealthy. of course you were playing a lot of clips from people open to compromise. it does seem to be the broad parameter that want a balanced deal. that's what john boehner and president obama are currently arguing about. par are it's interesting, mark. you and the team noted the confusion, if you want. maybe because of the leadership. the headlines and the ap has the headline fiscal cliffs appear to be stalled and the hill's headline edge towards the deal and deficit reduction negotiations. are both true? >> both are true and you
the revenue and the spending cuts. >> house members are willing to compromise to avert the fiscal cliff. what are the people at home thinking of their actions. we have a pri view for a poll that debuts tonight. part of that is compromising what folks want to see from the lawmakers. >> a lot of americans want to see compromise. according to the poll, 65% want a compromise balanced deal to reduce the deficit. even if they have to reduce the entitlement program like medicare and social...
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a series of tax cuts and spending cuts set to kick in just 26 shopping days until the fiscal cliff. >> brian: less working days. >> steve: that's right. house republicans say there will be no deal if tax ritz go up and the obama administration says it's ready to go thelma and louise style over the cliff on january 1. if that's the case, wendell goler live at the white house with what we know is going on behind the scenes. anything happening? >> steve, the president and house speaker john boehner talked on the phone yesterday, but they agreed not to characterize their conversation. so it's unclear how much progress they made. from the outside, it does seem they've moved a bit closer with boehner now agreeing to raise tax collection from the wealthy, though not by raising tax rates. >> we've got to cut spending and i believe to put revenues on the table. the revenues we're putting on the table will come from, guess who, the rich! there are ways to limit deductions, close loopholes, and have the same people pay more of their money to the federal government without raising tax rates which
a series of tax cuts and spending cuts set to kick in just 26 shopping days until the fiscal cliff. >> brian: less working days. >> steve: that's right. house republicans say there will be no deal if tax ritz go up and the obama administration says it's ready to go thelma and louise style over the cliff on january 1. if that's the case, wendell goler live at the white house with what we know is going on behind the scenes. anything happening? >> steve, the president and house...
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this fiscal cliff negotiation seems doomed. am i being pessimistic? >> we're basically spending like europeans, but being taxed like americans. at some point you got to decide which you want. basically american government spending now is getting close to norwegian levels. and at that point, you can't have american tax levels. >> brian: what is their level? >> they spend 46% of gdp and people pay that. that's reflected in their taxes. america is basically borrowing $188 million every hour in washington. seven days a week, 24 hours a day, thanksgiving, ramadan, whatever. that gap cannot be closed by sticking to to the rich. >> brian: don't you think the president realizes that or do you think he fully realizes that in. >> oh, yeah, he does. this is the cunning thing. he's going to blame it on the rich, blame it on the republicans. but right now if you're just an average working guy with an average income, your taxes are going to go up because for him -- pour for the president, it's not about the economy. it's about government. it's about the size of gov
this fiscal cliff negotiation seems doomed. am i being pessimistic? >> we're basically spending like europeans, but being taxed like americans. at some point you got to decide which you want. basically american government spending now is getting close to norwegian levels. and at that point, you can't have american tax levels. >> brian: what is their level? >> they spend 46% of gdp and people pay that. that's reflected in their taxes. america is basically borrowing $188 million...
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stalemate that threatens to take the country over the fiscal cliff in just over three weeks. meanwhile, one by one republicans are bowing to the president's demand that takes go up for the wealthy. >> will i accept a deal? >> yes. >> we don't have a lot of cards before year end. we have one house. that's it, the presidency and the senate. it's in the democrat's hands. >> since we agree with the democrats, 98% of the american people and 80% of the bush tax cuts, i would get that off the table now so they don't worry about it. >> democrats insist taxes are going up on the rich no matter what. >> if you don't increase tax rates 2%, you won't generate enough revenue to have meaningful deficit reductions. >> republicans want big spending cuts to programs like medicare and social security. >> we don't want to be back here in another year or ten years answering the same questions. >> reporter: as talks continue on both sides of pennsylvania avenue, americans from main street to wall street wait to see who will blink first. brian moore, nbc news in washington. >>> bad news in afghani
stalemate that threatens to take the country over the fiscal cliff in just over three weeks. meanwhile, one by one republicans are bowing to the president's demand that takes go up for the wealthy. >> will i accept a deal? >> yes. >> we don't have a lot of cards before year end. we have one house. that's it, the presidency and the senate. it's in the democrat's hands. >> since we agree with the democrats, 98% of the american people and 80% of the bush tax cuts, i would...
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spending christmas in d.c. tracie potts has those good morning. >>> the president sitting down with john boehner, the staff sitting behind closed door, but today republican members come back to capitol hill and boehner may have a problem. >> all these members are going to come back to town, and they're going to want to play a role in these negotiations. >> the house is back today. that means conservative republicans who insist the wealthy keep this year's tax breaks could put the squeeze on their own party. that's the one thing president obama refuses to bend on. otherwise he says he's flexible. >> i understand, you know, people have a lot of different views. i'm willing to compromise a little bit. >> so are some republicans to save tax breaks for the middle class now and deal with the wealthy later. let's recognize reality, take care of as many people as we possibly can. >> polls show more taxpayers will blame republicans if taxes go up. that's increasing the odds of a year-end deal. >> it's a better than 50/5
spending christmas in d.c. tracie potts has those good morning. >>> the president sitting down with john boehner, the staff sitting behind closed door, but today republican members come back to capitol hill and boehner may have a problem. >> all these members are going to come back to town, and they're going to want to play a role in these negotiations. >> the house is back today. that means conservative republicans who insist the wealthy keep this year's tax breaks could...
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>> we are not going into this fiscal cliff from a position of strength. there is no doubt, if we cliff dive on this we're going to have a high unemployment a lot of people will be laid off because of the spending cuts and tax increases. >> heather: and we are facing tax increases. >> absolutely. >> heather: thank you. >> gregg: new chaos unfolding in the middle east as egypt's military threatens the protestors there. syria preparing to unleash chemical weapons and people are scared seen here running for their lives to prevent two catastrophes from getting a whole lot worse. staechb yates will be with us next. [ male announcer ] red lobster's crabfest ends soon. hurry in and try five succulent entrees, like ourender snow crab paired with savory garlic shrimp. just $12.99. come into red lobster and sea food differently. and introducing 7 lunch choices for just $7.99. but they haven't experienced extra strength bayer advanced aspirin. in fact, in a recent survey, 95% of people who trieit agreed that it relieved their headache fast. visit fastreliefchallenge.
>> we are not going into this fiscal cliff from a position of strength. there is no doubt, if we cliff dive on this we're going to have a high unemployment a lot of people will be laid off because of the spending cuts and tax increases. >> heather: and we are facing tax increases. >> absolutely. >> heather: thank you. >> gregg: new chaos unfolding in the middle east as egypt's military threatens the protestors there. syria preparing to unleash chemical weapons and...
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the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with eric's take? is the right strategy for republicans to stick to their guns, forget about compromise? >> no. i really don't -- eric is one of my favorite people. we talk a lot. but i think that, and i did work for the speaker gingrich during the shut-down fight in '96, and it did not work out well for republicans. the president has a much bigger bully pulpit than the speaker does. newt gingrich's bully pulpit was pretty big back in those days but at some point, republicans in the house -- and i think boehner is trying to look for ways to do this, speaker boehner,
the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with...
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then ben bernanke talked about the fiscal cliff that ended that rally, stocks coming off their highs, index, swung 102 points over second, and s&p finished where it began, nascar -- nazdaq down over 8 points, and trading on big board, busiest in the week, walmart a big mover, dropping retailer part of an overall weak group, best answer, profit taking with the sell-off walmart up, 18 -- almost 19ers in on the year, 10 year, yield rising to 1.69%, and crude market, up, joining me now, wells fargo chief economist, john silviia, 6.5% is target for fed chairman and the fed, that is the unemployment rate they want to hit, i have never heard of the fed doing this before. have you? >> no, this is -- there is a danger for fed being so specific. in a particular number, what we've seen, in the last two years, is that the unemployment rate has dropped, for whatever reason, by a 1% each year, that means 7. searc 7 we could be 6.n one year, is that is far ahead of between 15 -- the 2015 in the marketplace. lou: terrible thing about that is and would be, it would be the result of more people leaving
then ben bernanke talked about the fiscal cliff that ended that rally, stocks coming off their highs, index, swung 102 points over second, and s&p finished where it began, nascar -- nazdaq down over 8 points, and trading on big board, busiest in the week, walmart a big mover, dropping retailer part of an overall weak group, best answer, profit taking with the sell-off walmart up, 18 -- almost 19ers in on the year, 10 year, yield rising to 1.69%, and crude market, up, joining me now, wells...
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, reform some entitlements to avoid this bad situation which we're calling the fiscal cliff, when you have automatic tax increases and spending cuts, but as we, you know, the time goes, it's been three weeks since the election, i'm growing increasingly pessimistic. >> we're been talking about it on the show, chris, and brought up a couple of times that the president, if he does nothing, the tax cuts expire, and the defense cuts go into place, which is largely what the democrats want to have happened and republicans now making the argument. perhaps the president is not going to negotiate because he wants to simply step back and want things to unfold. do you buy that. i think he does want to compromise because if this were to go on long enough. i don't think it happens the first week after the fiscal cliff, but if you continue with this and all of the things that happen, all of the bush tax cuts expire, not only on the rich, but also the middle class, the spending cuts, about 100 million in the first year, you could grow according to the congressional budget office or unemployment back
, reform some entitlements to avoid this bad situation which we're calling the fiscal cliff, when you have automatic tax increases and spending cuts, but as we, you know, the time goes, it's been three weeks since the election, i'm growing increasingly pessimistic. >> we're been talking about it on the show, chris, and brought up a couple of times that the president, if he does nothing, the tax cuts expire, and the defense cuts go into place, which is largely what the democrats want to...
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the longer the white house slow walks this process the closer the economy gets to the fiscal cliff. >> where are the revenues? where are the revenues? regardless of the cuts or changes of entitlements more is demanded in terms of what seniors would have to pay in to a medicare and what age that would happen. while the republicans refuse to touch one hair on the head of a the wealthiest people in our country. >> when it comes to taxes the top senate republicans said it was time for his party to give in and move on. >> what the president is trying to the achieve on the top two tax rates, you know, he can get by doing nothing. the law is certainly stacked in his favor. >> sharing the view a tack increase is all but inevitable. >> senator coburn is joining us now. you have said the tax rates are going up on the wealthiest 2% of a americans. it sounds like more republicans are coming around to your way of thinking. i understand you have been talking to republican colleagues about support ing this and insisting spending cuts. what level of support is there among your colleagues for a deal l
the longer the white house slow walks this process the closer the economy gets to the fiscal cliff. >> where are the revenues? where are the revenues? regardless of the cuts or changes of entitlements more is demanded in terms of what seniors would have to pay in to a medicare and what age that would happen. while the republicans refuse to touch one hair on the head of a the wealthiest people in our country. >> when it comes to taxes the top senate republicans said it was time for...
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president obama meantmie, says congress can't tie fiscal cliff talks to upcoming debt ceiling votes. also, the military budget is on the table with a possible $500 million being set aside as a warning. stay with us, more news coming up. you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ aids is going to lose. aids is going to lose. when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. >> coming up at six- thirty... an update on that massive sinkhole in lafayette... crews on scene hoping to keep it from
president obama meantmie, says congress can't tie fiscal cliff talks to upcoming debt ceiling votes. also, the military budget is on the table with a possible $500 million being set aside as a warning. stay with us, more news coming up. you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported...
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just raise taxes on the upper income now to avoid going over the fiscal cliff. this, of course, kicks the can down the road. the republicans say no deal if spending cuts are not agreed upon, along with new revenue right now. not later. but now, the next salvo, democrats now are saying that they won't put any spending cut proposals out there, they want to first hear what cuts the republicans want first. i guess so that they can use that against them in the public forum. we'll remember the infamous granny over the cliff ad after paul ryan floated his budget. so, what is the end game here? what if john boehner doesn't blink? we now have less than three weeks before the new year. i have said it before -- i am not expecting a deal. it seems even the prospect of missed vacations for our law makers, something we already know they hold sacred, may not be enough to bring real compromise. and what about the markets? well, here's the scary part. clearly the markets are looking for a deal. look at today's nice rally. they are trading as if we will get a deal and it might on
just raise taxes on the upper income now to avoid going over the fiscal cliff. this, of course, kicks the can down the road. the republicans say no deal if spending cuts are not agreed upon, along with new revenue right now. not later. but now, the next salvo, democrats now are saying that they won't put any spending cut proposals out there, they want to first hear what cuts the republicans want first. i guess so that they can use that against them in the public forum. we'll remember the...
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the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff. >> president obama responded, showing republicans where they could find the details. >> it's not a mystery. we've seen this before. this is the document that contains the specific spending cuts. the speaker of the house sent us a proposal that was two pages long that included one sentence on revenue. the proposal here includes, i believe from pages 17 to 45, details on proposed spending cuts by the president, pages 17 to 45. i recommend them to you. >> so, at this point, a deal before christmas looking unlikely. as senate majority leader harry reid admitted yesterday. but in an interview with barbara walters, president obama predicted that republicans would eventually give in on taxes. >> the most important thing we can do is make sure the middle class taxes do not go up on january 1st, and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high-income individuals. >> prediction. are you going to be able to raise taxes, yes o
the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff. >> president obama responded, showing republicans where they could find the details. >> it's not a mystery. we've seen this before. this is the document that contains the specific spending cuts. the speaker of the house sent us a proposal that was two pages long that included one sentence on revenue. the proposal here includes, i believe from pages 17 to 45, details on proposed...
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why not go over the fiscal cliff where you get both of those? i think that's where we are headed, david, unfortunately. david: bill beach, director of heriiage foundation director of for analysis. good to see you again. liz: right before the holidays, citi cutting costs and 11,000 jobs with it. that number could go up even more. liz macdonald has all the breaking details exclusively here on fox business. but when i was in an accident... i was worried the health care syst spoke a language all its own with unitedhealthcare, i got help that fit my life. i never missed a beat. that's health in numbers. unitedhealthcare. ♪ [ male announcer ] they are a glowing exple of what it means to be the best. and at th special time of year, they shine evebrighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional pric [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. liz: the third largest u.s. bank announcing it will cut 11,000 jobs in an eff
why not go over the fiscal cliff where you get both of those? i think that's where we are headed, david, unfortunately. david: bill beach, director of heriiage foundation director of for analysis. good to see you again. liz: right before the holidays, citi cutting costs and 11,000 jobs with it. that number could go up even more. liz macdonald has all the breaking details exclusively here on fox business. but when i was in an accident... i was worried the health care syst spoke a language all...